We will here give three tricks: i. using a personalized \overline, ii. boxing every digit of an integer, iii. using \scalebox. I will then expose my point of view about the LaTeX learning curve, and give ... [more ▼]

We will here give three tricks: i. using a personalized \overline, ii. boxing every digit of an integer, iii. using \scalebox. I will then expose my point of view about the LaTeX learning curve, and give some of the most common beginners’ mistakes. [less ▲]

After having looked at about 150 StackExchange pages of 50 topics (that sums up to about 7500 topics’ names), I give you, in this article and in the next issue, the most interesting topics’ answers to my ... [more ▼]

After having looked at about 150 StackExchange pages of 50 topics (that sums up to about 7500 topics’ names), I give you, in this article and in the next issue, the most interesting topics’ answers to my eyes. We will first begin by two additions in regard to 31(3), 32(1). [less ▲]

This is the second (and last) part of the tricks I found on StackExchange. First part began in the preceding issue. We will begin by a personal trick, and end by some inquiry about my LaTeX Tips & Tricks.

This is the 10th edition of my `Tips & Tricks.' This time, we shall first see how to write `dancing text,' roman numerals, how to draw under and over braces on same elements, and how to display aligned ... [more ▼]

This is the 10th edition of my `Tips & Tricks.' This time, we shall first see how to write `dancing text,' roman numerals, how to draw under and over braces on same elements, and how to display aligned (in)equations systems. We will then end by discussing on BibLaTeX and Biber, which constitute a promising alternative to BibTeX. [less ▲]

What can immigrants do for non-migrant relatives in their home country who need healthcare they cannot afford? To answer this question, we first examine four existing methods that can be found in the ... [more ▼]

What can immigrants do for non-migrant relatives in their home country who need healthcare they cannot afford? To answer this question, we first examine four existing methods that can be found in the existing literature: mobility, remittances, workers’ health insurance and diasporic health insurance. In the second part of the paper, we discuss an innovative strategy called “transnational health insurance” (THI). These insurance schemes are set up by immigrants in cooperation with a multitude of actors including health insurance companies in destination countries and healthcare providers in countries origin. THIs offer health coverage to non-migrant relatives in the home country based on a premium paid directly by immigrants to the insurance company in their country of residence. Analyzing the creation and implementation of Belgian-Congolese THIs, we discuss the strengths and weaknesses of these schemes in responding to the needs of both immigrants and their non-migrant relatives. The article concludes with a discussion on the specificities of THIs as hybrid forms of remittances. [less ▲]

Onshore wind power development in Belgium has provoked considerable opposition at the local level. To cope with this issue, wind power cooperatives seem to present important assets. This article explores ... [more ▼]

Onshore wind power development in Belgium has provoked considerable opposition at the local level. To cope with this issue, wind power cooperatives seem to present important assets. This article explores the reasons why these organizations are likely to enhance social acceptability of this technology. Then it confronts these normative assumptions with empirical data. The results of this analysis confirm the positive effect of cooperative ownership on the social acceptability of onshore wind turbines. [less ▲]

In this paper, we consider a regression model in which the tail of the conditional distribution of the response can be approximated by a Generalized Pareto distribution. Our model is based on a ... [more ▼]

In this paper, we consider a regression model in which the tail of the conditional distribution of the response can be approximated by a Generalized Pareto distribution. Our model is based on a semiparametric single-index assumption on the conditional tail index; while no further assumption on the conditional scale parameter is made. The underlying dimension reduction assumption allows the procedure to be of prime interest in the case where the dimension of the covariates is high, in which case the purely nonparametric techniques fail while the purely parametric ones are too rough to correctly fit to the data. We derive asymptotic normality of the estimators that we define, and propose an iterative algorithm in order to perform their practical implementation. Our results are supported by some simulations and a practical application on a public database of operational losses. [less ▲]

We describe in this paper a new approach to parallelize branch-and-bound on a certain number of processors. We propose to split the optimization of the original problem into the optimization of several ... [more ▼]

We describe in this paper a new approach to parallelize branch-and-bound on a certain number of processors. We propose to split the optimization of the original problem into the optimization of several subproblems that can be optimized separately with the goal that the amount of work that each processor carries out is balanced between the processors, while achieving interesting speedups. The main innovation of our approach consists in the use of machine learning to create a function able to estimate the difficulty (number of nodes) of a subproblem of the original problem. We also present a set of features that we developed in order to characterize the encountered subproblems. These features are used as input of the function learned with machine learning in order to estimate the difficulty of a subproblem. The estimates of the numbers of nodes are then used to decide how to partition the original optimization tree into a given number of subproblems, and to decide how to distribute them among the available processors. The experiments that we carry out show that our approach succeeds in balancing the amount of work between the processors, and that interesting speedups can be achieved with little effort. [less ▲]

We consider a Vehicle Routing Problem (VRP) with deterministic orders in two periods from a set of stores. Orders in period 1 (2) can be postponed (advanced) to the other period but any diversion from the ... [more ▼]

We consider a Vehicle Routing Problem (VRP) with deterministic orders in two periods from a set of stores. Orders in period 1 (2) can be postponed (advanced) to the other period but any diversion from the initial orders incurs a penalty. From the perspective of a Logistics Service Provider (LSP), such diversions could be beneficial if savings in the routing costs outweigh the penalties. So could they be from a store's view, as the store can set a high enough penalty to compensate the diversion from its own optimal orders. In this paper, we introduce a new model where we seek a better solution for the LSP, compared to solving two independent VRPs with fixed orders, by allowing orders to be fully postponed or advanced. We apply a branch-and-price algorithm to solve this model to optimality. Many cutting-edge techniques are implemented to have an efficient branch-and-price algorithm, and two ideas to possibly improve the upper bound are tested. We draw algorithmic and managerial insights based on our test instances. [less ▲]

This paper attempts to address the challenges of how to invest in Synthetic Biology firms, most of which are relatively new start-ups and unprofitable. Valuing an early-stage firm with only a brief ... [more ▼]

This paper attempts to address the challenges of how to invest in Synthetic Biology firms, most of which are relatively new start-ups and unprofitable. Valuing an early-stage firm with only a brief operating history, little or no operating profit (or even revenue), and an immature and untested business model, could be a formidable challenge. We propose a limited number of quantitative, and a larger number of qualitative criteria. An investor may consider these when faced with analyzing a new untried business, but one he/she believes has considerable potential for success in the future. [less ▲]

A k-out-of-n system configuration requires that, for the overall system to be functional, at least k out of the total of n components be working. We consider the problem of sequentially testing the ... [more ▼]

A k-out-of-n system configuration requires that, for the overall system to be functional, at least k out of the total of n components be working. We consider the problem of sequentially testing the components of a k-out-of-n system in order to learn the state of the system, when the tests are costly and when the individual component tests are imperfect, which means that a test can identify a component as working when in reality it is down, and vice versa. Each component is tested at most once. Since tests are imperfect, even when all components are tested the state of the system is not necessarily known with certainty, and so reaching a lower bound on the probability of correctness of the system state is used as a stopping criterion for the inspection. We define different classes of inspection policies and we examine global optimality of each of the classes. We find that a globally optimal policy for diagnosing k-out-of-n systems with imperfect tests can be found in polynomial time when the predictive error probabilities are the same for all the components. Of the three policy classes studied, the dominant policies always contain a global optimum, while elementary policies are compact in representation. The newly introduced class of so-called `interrupted block-walking' policies combines these merits of global optimality and of compactness. [less ▲]

This paper looks at the relationship between higher education ministers and the performance of the sector that they govern. Using an original panel dataset with the characteristics of European higher ... [more ▼]

This paper looks at the relationship between higher education ministers and the performance of the sector that they govern. Using an original panel dataset with the characteristics of European higher education ministers, we find that having a past experience in the sector leads to a higher level of performance, as measured by ranking data. Making a parallel with the literature about the impact of education on the educated, we discuss potential explanations behind the impact of this on-the-job learning experience. As we find that this characteristic has no impact on the spendings of the sector, we argue that this academic experience makes them more prone to introduce adequate reforms. Furthermore, we find that this result is driven by ministers with both this sector-specific and an electoral experience, the latter measured by a succesful election at the regional or national level. This tends to show that political credibility should not be overshadowed by the importance of the sector-specific experience of ministers. [less ▲]

This working paper is structured as follows. The first introductory section reviews the main historical roots that have led to the emergence of a diversity of models related to social enterprise and the ... [more ▼]

This working paper is structured as follows. The first introductory section reviews the main historical roots that have led to the emergence of a diversity of models related to social enterprise and the social economy in Belgium. Next, the second section sketches the main features of these models in terms of legal forms, types of social missions addressed, governance dynamics and resources. In the third section, these models are then illustrated in different fields of activity both established and emerging. Finally, the fourth section proposes a transversal analysis of the main trends and challenges facing the development and coexistence of the different models. [less ▲]

This paper studies the links between non-renewable and intermittent renewable energy sources in the production of electricity. We argue that the relationship between the price of natural gas and ... [more ▼]

This paper studies the links between non-renewable and intermittent renewable energy sources in the production of electricity. We argue that the relationship between the price of natural gas and investments in solar and wind capacity is represented by a bell-shaped curve, as opposed to being linear. Hence, for relatively low natural gas prices, the two modes of production are substitutes. After a price threshold is reached, the two are complementary. A theoretical model explains this as the trade-off resulting from two forces: the input price differential of these two modes of production and the risks related to the unpredictable nature of renewable energy. Using U.S. state-level data from 1998 to 2012, we find that this relationship is robust to various empirical specifications. [less ▲]

In this paper we develop a novel valuation model and methodology to value a pharmaceutical R&D project based on real options approach. The real options approach enables the possibility of optimally ... [more ▼]

In this paper we develop a novel valuation model and methodology to value a pharmaceutical R&D project based on real options approach. The real options approach enables the possibility of optimally abandon the project before completion whenever the investment cost turns out to be larger than the expected net cash flow stream. On the other hand, the proposed model accounts for two different sources of uncertainty, those are technical and economic risk. This model incorporates a novel economic state vector where each economic state captures the interaction among different market and economic forces using Fourier series as the particular basis for the economic function space. In this sense, Fourier series are considered as an aggregate of forces playing a relevant role in the process evolution determining the cash flow structure and also allowing us to properly define an economic scenario where the project will be developed. [less ▲]

In the aftermath of the worst financial and economic crisis in generations, the modernization of public administrations of the EU’s Member States (MSs) is among the structural reforms recommended by the ... [more ▼]

In the aftermath of the worst financial and economic crisis in generations, the modernization of public administrations of the EU’s Member States (MSs) is among the structural reforms recommended by the European Commission to relaunch growth in the European economy. This type of reforms has a longstanding tradition in the MSs as they sharply intensified during the 1990s following the paradigm of New Public Management (NPM). Indeed, by backing NPM-style reforms, the European Commission has fostered convergence between the administrative systems of the MSs based on a soft strategy of integration where, instead of establishing binding pan-European rules enforced directly in all the MSs, it has set a number of regulatory standards implemented in the MSs with the support of national legislators and political parties. This paper empirically addresses the above-mentioned process of soft integration by unveiling the domestic determinants that have led MSs’ political parties to call for NPM-style reforms in their national contexts between 1997 and 2011. The hypothesis tested in this study is that MSs’ political parties have called for NPM-style reforms in order to respond to specific challenges issuing from the macro-economic, institutional and political configuration of their domestic contexts. The contribution of this paper is twofold. On the one hand, it contributes to a better understanding of the process of European administrative integration by providing robust empirical evidence about the patterns of diffusion NPM-style reforms across the MSs of the EU. On the other hand, the empirical evidence provided by this paper for the comprehension of NPM-style reforms in the context of the EU also contributes to a better understanding of some traditional theories addressing the reasons of the worldwide striking international trend of the NPM paradigm. [less ▲]

During the XX century European administrative systems have undergone a profound process of managerial revolution during which private sector managerial tools and principles have spread across both central ... [more ▼]

During the XX century European administrative systems have undergone a profound process of managerial revolution during which private sector managerial tools and principles have spread across both central and local governments in many countries. As many scholars have associated this process of change with the raise and diffusion of a managerialist ideology, this paper empirically investigates the electoral propaganda that since 1950s has supported the diffusion of managerialist values across the national administrative systems of the European countries. On the basis of a longitudinal study of the electoral programs released by the European parties since 1950s, this research provides evidence-based knowledge about: i) the different patterns of diffusion of the public-sector managerialist propaganda in Eastern and Western Europe; ii) the controversial relationship that exists between the spread of the managerialist ideology and the actual adoption of managerialist reforms in the national structures of the public sector. [less ▲]

The International Comparative Social Enterprise Models (ICSEM) Project takes place within the Inter-University Attraction Pole on Social Enterprise (IAP-SOCENT) funded by the Belgian Science Policy and ... [more ▼]

The International Comparative Social Enterprise Models (ICSEM) Project takes place within the Inter-University Attraction Pole on Social Enterprise (IAP-SOCENT) funded by the Belgian Science Policy and coordinated by the Centre for Social Economy, HEC Liege, University of Liege (2012-2017). It involves more than 200 researchers from 50 countries across the world. the ICSEM Working Paper Series is made of country contributions focusing on social enterprise models at the national level. [less ▲]

In stepped spillway flows, a self-aerated flow region is often found where large quantities of air may be entrained into the water body. This air is then mixed with the water phase leading to an air-water ... [more ▼]

In stepped spillway flows, a self-aerated flow region is often found where large quantities of air may be entrained into the water body. This air is then mixed with the water phase leading to an air-water mixture flow with different characteristics than the clear water flow. Thus, air entrainment is an important flow feature which needs to be considered for safe design of these hydraulic structures. Advances in the development of new air-water measurement techniques and numerical modeling capabilities allow addressing these complex problems. Computational Fluid Dynamics (CFD) modeling can be a powerful supplement for physical model tests. In the presented study, the self-aeration process and the subsequent air transport in the aerated flow region of a stepped spillway model is investigated by means of both, new experimental and numerical methods. The slope of the spillway model is 1:2 and different flow rates are considered involving a skimming flow regime. For the physical model tests, a double-tip conductivity probe and ultrasonic sensors are used to evaluate air-water flow properties and flow depths, respectively. Additionally, high-speed camera recordings help to qualitatively analyze the air-water transport. In the numerical model, the same stepped spillway is simulated with identical flow conditions. A RANS approach coupled with RNG k-ε turbulence modeling and a VOF technique for free surface tracking is used. The determination of the inception point and the entrained air quantities are estimated employing a subscale model. To verify the numerical model, results are compared to the laboratory air-water measurements. The comparison of results from both techniques helps to identify their capabilities and limitations. [less ▲]

In this study, different preprocessing techniques have been applied in order to test if the accuracy of Bubble Image Velocimetry (BIV) calculations in self-aerated flows can be improved. For this purpose ... [more ▼]

In this study, different preprocessing techniques have been applied in order to test if the accuracy of Bubble Image Velocimetry (BIV) calculations in self-aerated flows can be improved. For this purpose, high-speed movies with a resolution of 1920 × 1200 px and a frame rate of 730 Hz are captured on a stepped spillway model with a Phantom M120 camera supplied by LaVision. BIV results are obtained by application of the open-source Matlab® toolbox PIVlab and compared to intrusive data from a double-tip conductivity probe. Averaging velocity fields from 249 frame pairs help to obtain robust results. Therefore, BIV is carried out in a loop with preceding variation of image processing techniques. Results show some potential improvement for the same cross correlation algorithm and post-processing options. However, BIV results tend to underestimate flow velocities when compared to the conductivity probe data. [less ▲]

We consider a class of optimal power flow (OPF) applications where some loads offer a modulation service in exchange for an activation fee. These applications can be modeled as multi-period formulations ... [more ▼]

We consider a class of optimal power flow (OPF) applications where some loads offer a modulation service in exchange for an activation fee. These applications can be modeled as multi-period formulations of the OPF with discrete variables that define mixed-integer non-convex mathematical programs. We focus on the optimization of this Mixed-Integer Non-Linear Programming (MINLP) problem through a separation into a non-linear programming (NLP) and a mixed-integer programming (MIP) component. The NLP is a feasibility problem involving the power flow equations and the flexible loads needs. The MIP is used to choose which flexible loads to activate and in which order. In several papers, the MIP is based on a linearization of the non-linear power flow equations. We compare several variants of the linearization. We propose new formulations based on prior knowledge of the network to improve the decision-making process when the relaxation is inappropriate. We show computationally with many real-world instances that they help find feasible solutions faster than standard MINLP techniques. [less ▲]

This paper looks at the relationship between higher education ministers and the performance of the sector that they govern. Using an original panel dataset with the characteristics of European higher ... [more ▼]

This paper looks at the relationship between higher education ministers and the performance of the sector that they govern. Using an original panel dataset with the characteristics of European higher education ministers, we find that having a past experience in the sector leads to a higher level of performance, as measured by ranking data. Making a parallel with the literature about the impact of education on the educated, we discuss potential explanations behind the impact of this on-the-job learning experience. As we find that this characteristic has no impact on the spendings of the sector, we argue that this academic experience makes them more prone to introduce adequate reforms that makes the sector more attractive for top-researchers. Furthermore, we find that this result is driven by ministers with both this sector-specific and an electoral experience, the latter measured by a successful election at the regional or national level. This tends to show that political credibility should not be overshadowed by the importance of the sector-specific experience of ministers. [less ▲]

This paper investigates the link between economic freedom and the production of energy using renewable sources, with a specific focus on European countries. Using a dynamic panel approach, we find that ... [more ▼]

This paper investigates the link between economic freedom and the production of energy using renewable sources, with a specific focus on European countries. Using a dynamic panel approach, we find that this relationship is positive and significant. The results of our instrumental variable approach indicate further the causal channel between economic freedom and the deployment of renewable energies. Looking at the subcomponents of the economic freedom index, we find that long term price stability and freedom to trade boost the production of renewable energies. However, the importance given to markets, rather than governments, in the economy has no significant impact. [less ▲]

This short paper offers a first analysis of the UEFA's "break even requirement" under the EU competition rules. It shows that there are good reasons to believe that the UEFA Financial Fair Play regulation ... [more ▼]

This short paper offers a first analysis of the UEFA's "break even requirement" under the EU competition rules. It shows that there are good reasons to believe that the UEFA Financial Fair Play regulation violates Article 101 of the Treaty on the Functioning of the EU, in particular because it limits investments in the sense of Article 101(1) b) TFEU and in turn risks ossifying the market structure to the benefit of a tight oligopoly of football clubs. [less ▲]

The award of the Nobel Prize in Economics to Professor Jean Tirole in 2014 has generated intense interest about his brainchild theory of two-sided markets. Against this background, this paper explores ... [more ▼]

The award of the Nobel Prize in Economics to Professor Jean Tirole in 2014 has generated intense interest about his brainchild theory of two-sided markets. Against this background, this paper explores whether there is such a thing as a unified theory of two-sided markets and whether the two-sided markets literature can readily be applied by antitrust agencies, regulatory authorities and courts. This paper vindicates caution. The buzz surrounding two-sided markets could mask the fact that, in many cases, the policy implications of the theory are not yet clear, and that divergences among its proponents are often underplayed. In that regard, the paper notably stresses that one of the key conditions of market two-sidedness identified by Rochet and Tirole in their seminal paper of 2003 – the unavailability of Coasian bargaining between both sides of a platform – has often disappeared from subsequent scholarship. This omission threatens the coherent implementation of the theory of two-sided markets. Without this qualification, markets are often mischaracterized as two-sided, as soon as they display prima facie signs of indirect network externalities. [less ▲]

Context: Type Ia Supernovae (SNIa) observations in the late 90’s were the first hints for an accelerated expansion of our Universe. Today, hundreds of objects have been observed and seem to confirm the ... [more ▼]

Context: Type Ia Supernovae (SNIa) observations in the late 90’s were the first hints for an accelerated expansion of our Universe. Today, hundreds of objects have been observed and seem to confirm the flat LambdaCDM model as the cosmological model best representing our Universe. Aims: We study the SNIa observations gathered in the Union 2.1 and in the JLA compilations. By analyzing correlations and different ways of comparing cosmological models to the data, we bring to light some statistical biases, due to the current way of computing SNIa luminosity corrections for light-curve shape, color and host galaxy mass. Methods: We suggest an alternative, safer and model-independent methodology to calibrate the luminosity corrections, using only nearby SNIa. Results: With our recalibrated data, biases are strongly reduced. Moreover, open cosmological models are shown to be favoured over flat models (Omega_m,0 = 0.26+-0.08, Omega_Lambda,0 = 0.66+-0.12 for the SCP compilation and Omega_m,0 = 0.20+-0.08, Omega_Lambda,0 = 0.56+- 0.13 for the JLA one). Conclusions: The usual method to process SNIa data, i.e. simultaneously determining the parameters of the cosmological model and of the luminosity corrections on the full sample, is prone to bias the data in favour of the assumed cosmology, currently a flat LambdaCDM model, as well as to bias the cosmological parameters of the assumed model. [less ▲]

Time is a parameter playing a central role in our most fundamental modeling of natural laws. Relativity theory shows that the comparison of times measured by different clocks depends on their relative ... [more ▼]

Time is a parameter playing a central role in our most fundamental modeling of natural laws. Relativity theory shows that the comparison of times measured by different clocks depends on their relative motions and on the strength of the gravitational field in which they are embedded. In standard cosmology, the time parameter is the one measured by fundamental clocks, i.e. clocks at rest with respect to the expanding space. This proper time is assumed to flow at a constant rate throughout the whole history of the Universe. We make the alternative hypothesis that the rate at which cosmological time flows depends on the dynamical state of the Universe. In thermodynamics, the arrow of time is strongly related to the second law, which states that the entropy of an isolated system will always increase with time or, at best, stay constant. Hence, we assume that time measured by fundamental clocks is proportional to the entropy of the region of the Universe that is causally connected to them. Under that simple assumption, we build a cosmological model that explains the Type Ia Supernovae data (the best cosmological standard candles) without the need for exotic dark matter nor dark energy. [less ▲]

This paper considers the general problem of image classification without using any prior knowledge about image classes. We study variants of a method based on supervised learning whose common steps are ... [more ▼]

This paper considers the general problem of image classification without using any prior knowledge about image classes. We study variants of a method based on supervised learning whose common steps are the extraction of random subwindows described by raw pixel intensity values and the use of ensemble of extremely randomized trees to directly classify images or to learn image features. The influence of method parameters and variants is thoroughly evaluated so as to provide baselines and guidelines for future studies. Detailed results are provided on 80 publicly available datasets that depict very diverse types of images (more than 3800 image classes and over 1.5 million images). [less ▲]

We report the discovery of the transiting hot Jupiter exoplanet WASP-85Ab. Using a combined analysis of spectroscopic and photometric data, we determine that the planet orbits its host star every 2.66 ... [more ▼]

We report the discovery of the transiting hot Jupiter exoplanet WASP-85Ab. Using a combined analysis of spectroscopic and photometric data, we determine that the planet orbits its host star every 2.66 days, and has a mass of 1.09+/-0.03 M_Jup and a radius of 1.44+/-0.02 R_Jup. The host star is of G5 spectral type, with magnitude V=11.2, and lies 125+/-80 pc distant. We find stellar parameters of T_eff=5685+/-65 K, super-solar metallicity ([Fe/H]=0.08+/-0.10), M_star=1.04+/-0.07 M_sun and R_star=0.96+/-0.13 R_sun. The system has a K-dwarf binary companion, WASP-85B, at a separation of approximately 1.5". The close proximity of this companion leads to contamination of our photometry, decreasing the apparent transit depth that we account for during our analysis. Without this correction, we find the depth to be 50 percent smaller, the stellar density to be 32 percent smaller, and the planet radius to be 18 percent smaller than the true value. Many of our radial velocity observations are also contaminated; these are disregarded when analysing the system in favour of the uncontaminated HARPS observations, as they have reduced semi-amplitudes that lead to underestimated planetary masses. We find a long-term trend in the binary position angle, indicating a misalignment between the binary and orbital planes. WASP observations of the system show variability with a period of 14.64 days, indicative of rotational modulation caused by stellar activity. Analysis of the Ca ii H+K lines shows strong emission that implies that both binary components are strongly active. We find that the system is likely to be less than a few Gyr old. WASP-85 lies in the field of view of K2 Campaign 1. Long cadence observations of the planet clearly show the planetary transits, along with the signature of stellar variability. Analysis of the K2 data, both long and short cadence, is ongoing. [less ▲]

In this paper we investigate the relationship between boards of directors’ attributes and conditional accounting conservatism in the French context. Using a pooled regression model to evaluate this ... [more ▼]

In this paper we investigate the relationship between boards of directors’ attributes and conditional accounting conservatism in the French context. Using a pooled regression model to evaluate this relationship for the period 2009-2012, our empirical results can be summarized as follows. Firstly, greater board activity encourages more conservative reporting in financial statements. Secondly, greater board size diminishes conditional accounting conservatism. Lastly, there is a positive relationship between gender diversity and conservatism. To ensure robustness we have calculated our results using alternative measures of accounting conservatism, namely time series and accrual-based measures in addition to asymmetric timeliness of earnings. These findings suggest that boards of directors’ attributes are an important factor in determining the financial reporting quality of French firms. [less ▲]

This document aims at introducing the restructuring phenomena in Belgium. It makes part of a larger project (called the MOLIERE project) undertaken by eleven European countries gathered to analyse ... [more ▼]

This document aims at introducing the restructuring phenomena in Belgium. It makes part of a larger project (called the MOLIERE project) undertaken by eleven European countries gathered to analyse restructurings. This national document follows a common reporting format: an introduction of the complex Belgian restructuring frameworks (1), a presentation of the main actors involved in the process (2), a synthesis of the measures created to anticipate change (3) and a synthesis of the measures established to manage change (4). [less ▲]

We explore the hydrodynamic analogues of quantum wave-particle duality in the context of a bouncing droplet system which we model in such a way as to promote comparisons to the de Broglie-Bohm ... [more ▼]

We explore the hydrodynamic analogues of quantum wave-particle duality in the context of a bouncing droplet system which we model in such a way as to promote comparisons to the de Broglie-Bohm interpretation of quantum mechanics. Through numerical means we obtain single-slit diffraction and double-slit interference patterns that strongly resemble those reported in experiment and that reflect a striking resemblance to quantum diffraction and interference on a phenomenological level. We, however, identify evident differences from quantum mechanics which arise from the governing equations at the fundamental level. [less ▲]

We present the L-surface as an attractive generalization of the L-curve framework for the selection of the optimal smoothing parameters in two dimensional applications. It preserves the desirable features ... [more ▼]

We present the L-surface as an attractive generalization of the L-curve framework for the selection of the optimal smoothing parameters in two dimensional applications. It preserves the desirable features of its unidimensional analogous. The optimal amount of smoothing is indicated by the pair of parameters located in the point of maximum (Gaussian) curvature. Locate this point on a discrete parametric surface can be not straightforward. We introduce the V-valley as a simplified selection criterion based on distance minimization. [less ▲]

In this paper, we estimate the out-of-sample predictive ability of a set of trading rules. Usually, this ability is estimated using a rolling-window sample-splitting scheme, true out-of-sample data being ... [more ▼]

In this paper, we estimate the out-of-sample predictive ability of a set of trading rules. Usually, this ability is estimated using a rolling-window sample-splitting scheme, true out-of-sample data being rarely available. We argue that this method makes a poor use of the available information and creates data mining possibilities. Instead, we introduce an alternative bootstrap approach, based on the .632 bootstrap principle. This method enables to build in-sample and out-of-sample bootstrap data sets that do not overlap and exhibit the same time dependencies. We illustrate our methodology on IBM and Microsoft daily stock prices, where we compare 11 trading rules specifications. For the data sets considered, two different filter rule specifications have the highest out-of-sample mean excess returns. However, all tested rules cannot beat a simple buy-and-hold strategy when trading at a daily frequency. [less ▲]

EXECUTIVE SUMMARY Towards a system of concept on general practice / family medicine Part 1 Towards a specific indexation system in GP/FM Status of this document ; preliminary draft, not for diffusion ... [more ▼]

EXECUTIVE SUMMARY Towards a system of concept on general practice / family medicine Part 1 Towards a specific indexation system in GP/FM Status of this document ; preliminary draft, not for diffusion Intended audience : Members of the board of the PhD thesis of Marc Jamoulle, department of general practice, Liege University and experts in the field contacted by the author Background :Thousands of general practitioners/ family doctors are gathering each year in local, national or international congresses. They are exchanging thoughts, researches and methods through thousands of communications in various formats; posters, oral communications, workshops and so on. Although this huge collection of bottom-up knowledge is sometimes available through Internet sites, there is no specific indexation system allowing a real knowledge management of the exposed works. Consequently the information could not be reached, which don’t favor the exchange between researchers. The absence of a common indexation system is also a problem to organize the congresses and the participants have always difficulties to find communications relevant of their interest. The technology of semantic web and Linked data have emerged as a future solution to exchange data distributed in many languages between so many providers, the family physicians, spread around the globe. The considerable development of medical ontologies demonstrates the vitality of this field of discovery. Aim of the thesis; To find the best way to identify the main concepts effectively used by practicing GPs by the development of a system of classification embedded in the International classification of Primary Care aiming at retrieval of clinical and non-clinical issues addressed by the authors in their communications To propose a mapped terminology to this classification systems, in other words an ontology of GP/FM, to participle to a linked data based automatic or semi-automatic indexation of knowledge in GP/FM and its implementation in the realm of the semantic web. Content of the part 1 : the first steps towards a global classification system in GP/FM are related as well as previous experiences and difficulties with usual coding systems. The new information technology tools for information management are concisely described which permit the understanding of their importance in future research networks of knowledge in G/FM A comparison of the coding process and results of 6 congress of GP/FM in several countries and 4 languages has been performed to examine the internal reproducibility of the classifying system proposed. Next steps of the thesis are discussed of which first of them would be the constitution of an International research group. [less ▲]

On 10 August 2014, Turkey will hold the first round of presidential election which are of specific importance, as its results will shape the country’s both domestic politics and external relations. This ... [more ▼]

On 10 August 2014, Turkey will hold the first round of presidential election which are of specific importance, as its results will shape the country’s both domestic politics and external relations. This paper discusses the key challenges which Turkey’s next president must undertake. The domestic challenges range from revision of Constitution, Kurdish peace process and economic growth to polarization of society, freedom of judiciary, separation of powers and civil liberties. In the external relations area, the principal challenges are the worsening of country’s relations with its neighbours, security threats and the stalemate of the EU integration. Several domestic and external challenges are inter-related: for instance, the freedom of judiciary, separation of powers and civil liberties affect the EU integration process; the political uncertainty relates to economic growth and foreign investments; the Kurdish peace process impacts on the external security issues; the economic factors influence the relations with the Kurdistan Regional Government and Iraq’s central government; the Syrian crisis raises new challenges with regard to the Syrian refugees in Turkey. Therefore, addressing Turkey’s current domestic and external challenges will be a long, puzzling and often conflicting-results process. [less ▲]

Pseudo-Boolean functions naturally model problems in a number of different areas such as computer science, statistics, economics, operations research or computer vision, among others. Pseudo-Boolean ... [more ▼]

Pseudo-Boolean functions naturally model problems in a number of different areas such as computer science, statistics, economics, operations research or computer vision, among others. Pseudo-Boolean optimization (PBO) is NP-hard, even for quadratic polynomial objective functions. However, much progress has been done in finding exact and heuristic algorithms for the quadratic case. Quadratizations are techniques aimed at reducing a general PBO problem to a quadratic polynomial one. Quadratizing single monomials is particularly interesting because it allows quadratizing any pseudo-Boolean function by termwise quadratization. A characterization of short quadratizations for negative monomials has been provided. In this report we present a proof of this characterization for the case of cubic monomials, which requires a different analysis than the case of higher degree. [less ▲]

We investigate an elementary shortest path problem with resource constraints where a single capacitated vehicle, initially located at a depot, must serve a set of customers while respecting their ... [more ▼]

We investigate an elementary shortest path problem with resource constraints where a single capacitated vehicle, initially located at a depot, must serve a set of customers while respecting their individual time windows. When the vehicle visits a customer, it delivers the customer's demand and collects a revenue in return for the delivery. The vehicle can start its trip at any desired time. The transportation cost is a function of both the total distance traveled and the duration of the assigned trip. The objective is to determine the service start time from the depot, the subset of customers to be served, and the trip to be performed so as to minimize the total loss, which is calculated as the di erence between the transportation cost and the revenue collected from the customers. We develop two exact dynamic programming algorithms which can deal with an in nite number of Pareto-optimal states arising from the fact that the starting time and the duration of the trip act like continuous decision variables. We report computational results obtained with these algorithms and with a faster heuristic for the elementary shortest path problem. We also examine the performance of these algorithms when they are used to solve the pricing subproblem arising in the framework of a column generation algorithm for a related vehicle routing problem with time windows. [less ▲]

Why is it so difficult to talk about China in a nuanced and contrasting manner without falling back on superlatives and generalisations? In about thirty years, China’s GDP per capita has multiplied by ... [more ▼]

Why is it so difficult to talk about China in a nuanced and contrasting manner without falling back on superlatives and generalisations? In about thirty years, China’s GDP per capita has multiplied by eight. From a marginal economic power during the Maoist period (1949-1978), China is now ranked tenth in terms of global economic weight. “Wealth and power” (fu qiang) is the expression that embodies China’s quest for modernity since the second half of the 19th century, when China was still under the yoke of the West. This ambition is still at the heart of the “Chinese dream of rejuvenation of the Chinese nation” dear to Xi Jinping, which he set out during the Third Plenum of the 18th Central Committee of the Chinese Communist Party. But focusing only on this vision of “wealth and power” takes us back to one of the most common ways of representing China: reducing the ongoing socio-economic changes and dynamics to a set of numeric values, ultimately reified and homogenised. The increased power and internationalisation of the Chinese economy has prompted a combination of worry and enthusiasm. What does this imply about the paradigm shift in the way we portray this country? Perhaps it is still hard to leave behind the image of a subordinate, poor and voiceless China and consider the Chinese people as, at least, our equals. [less ▲]

Now that 50 years have gone by since the publication of The Bureaucratic Phenomenon (French title: Le phénomène bureaucratique, 1963) by Michel Crozier, what is the legacy bequeathed by the sociology of ... [more ▼]

Now that 50 years have gone by since the publication of The Bureaucratic Phenomenon (French title: Le phénomène bureaucratique, 1963) by Michel Crozier, what is the legacy bequeathed by the sociology of organizations, in France and elsewhere, to today’s researchers? This contribution considers the premises of this methodology in order to establish two important achievements: the “decomposition” of the notions of organization, State and market; and the distinction of three dimensions of organizations, i.e. their managerial discourse, formal and informal structures. This article ends by considering one contemporary challenge this tradition of research has to face: how to account for the mechanisms of collective action, in order to take part in its composition? [less ▲]